Open Letter to Future Generations

We tried, we really did. Years from now, when you reflect on those that came before you; when you inherit a canvas stained and in tatters, remember that we tried.We had to maintain our standard of living, regardless.

We learned to spend our way out of things.And when we could no longer do that ourselves, our government did it for us. Unlike those that came before us, we were taught that self-interest matters more than principal and so our ancient communities and institutions crumbled under the power of "me."Self-esteem mattered more to us, so when we grew up we demanded praise, shunned feedback and became self-promoters of the highest order.Compared to our predecessors, we read little so we knew little, regardless of how “educated” we became.We read, wrote, and thought in fragments.We lost religion and found anxiety.We complained.But most of all, in contrast to our parents, grandparents and those that came before them, we spent what we did not have.

Ten years from when I write this, actions made by this administration and Congress, as well as the previous adminstration, are expected to double the federal budget. Between 1776 and 2008 the US government accumulated roughly $11 trillion in federal debt; the next ten years alone should bring an additional $9 trillion in burdens.Some analysts believe federal debt will reach $50 trillion by 2030. The statistics are staggering: from 2007 to the beginning of 2010, the national debt increased an average of nearly $4 billion per day. In terms of how much money this is , if you wanted to count to a billion it would take you 95 years. At the end of 2009, each citizen’s share of the federal debt was about $39,000 and rising fast.I don’t want to think about what that will be when you come of age.Luckily, I won’t have to.Sure I'll need to get used to higher taxes for the rest of time, but at least I will get something in return. You will not.

Just know we had to do what we had to do, and that was to spend trillions of dollars on stimulus packages and handouts; bail out Wall Street, Main Street, car makers, insurance companies, mortgage companies and indebted citizens from coast to coast; spend our way out of recession, regardless of the time-tested notion that money does not grow on trees.We had to give $4,000 checks to anyone in need of a new car, $6,000 to anyone in need a new house, and a couple of $600 rebate checks to everyone else to spend on what they pleased.

We had to revolutionize/muddle our healthcare system, which will cost taxpayers additional trillions of dollars; this after only a few months of congressional debate and a full partisan vote in what the Wall Street Journal called “the worst bill ever.”We had to expand the federal government and take over pieces of the private sector.We had to promote spending, regardless of the fact that household debt is still in crisis phase.We had to pass out more and more handouts, and continue the entitlement programs that were unsustainable even before this government started throwing around cash like confetti.

To summarize, we tried.Who am I kidding? We didn’t try; not one bit. We spent what we had and spent what you had.We lived for today.